Bitcoin

South Korea is on the brink of introducing Asia’s first spot Bitcoin ETF, potentially revolutionizing the cryptocurrency market. Speculations arise on Bitcoin’s price potentially hitting the $80,000 mark with the new ETF approval. In line with recent updates by CNF, South Korea is paving the way for Asia’s first spot Bitcoin ETF following a key meeting with SEC Chair Gary Gensler, potentially positioning itself in a trillion-dollar market. According to a BloomingBit report, the Democratic Party is preparing to leverage…

Susquehanna International Group, a leader in quantitative trading, aggressively expanded its portfolio with over $1.1 billion invested in Bitcoin exchange-traded funds (ETFs). The company’s recent 13F SEC filing on May 7 revealed the composition and value of their Bitcoin ETFs portfolio as of March 31, 2024. The firm’s latest move signals a significant shift towards digital assets in its strategy. This hefty investment also presents growing confidence among major institutional players in cryptocurrency as a viable asset class. From Grayscale…

Mike McGlone, Senior commodity strategist at Bloomberg Intelligence, has made a rather pessimistic prediction for Bitcoin, emphasizing that the cryptocurrency’s potential rise to $150,00 was a long shot. The strategist has revealed factors that could make Bitcoin’s projected surge to $150,000 difficult, highlighting both macroeconomic trends and Bitcoin’s performance in 2024.  Bitcoin Surge To $150,000 Unlikely In a recent interview with Scott Melker, the host of “The Wolf Of All Streets,” podcast, McGlone discussed Bitcoin’s price fundamentals and its possible…

The National Council of Municipalities (CNM) estimates that the losses from these floods have surpassed $54 million. The Bitcoin community has come together to raise funds, providing various donation addresses, including PIX, Bitcoin via Lightning, and SegWit addresses. The state of Rio Grande do Sul, Brazil, has been grappling with the aftermath of devastating floods, causing significant damage and displacement. According to the RS Civil Defense, the crisis has left over 19,000 people in shelters, nearly 122,000 homeless, and around…

In an ever-evolving world of cryptocurrency markets, deciding the bottom of Bitcoin price correction is an endeavor that attracts interest from both investors and analysts. Joining the fray is cryptocurrency analyst and trader MilkyBull offering insights on the subject, claiming that Bitcoin’s local bottom has developed due to a certain development. Following its weekend recovery out of bear market territory, the price of Bitcoin slightly decreased on Monday. However, MilkyBull is confident that the recent retracement might be the last…

Bitcoin (BTC) has experienced a price slowdown, having recently recovered above $60,000. This tepid price movement is believed to be due to a couple of factors, including the reduced demand for the Spot Bitcoin ETFs.  Spot Bitcoin ETFs Have Lost Their Spark The Spot Bitcoin ETFs recorded billions of dollars in net inflows in the first three months of launch. This contributed to the significant rally that Bitcoin recorded right around when the funds were approved, with the flagship crypto…

Bitcoin price has once again shown its resilience by navigating through a volatile period known as the “Danger Zone.” This phase follows Bitcoin’s halving event, which significantly impacts its price. Emerging stronger, Bitcoin is now drawing investors’ attention. Bitcoin Price Moves From Danger to Accumulation Technical analyst Rekt Capital describes the “Danger Zone” as three weeks of potential downside volatility after Bitcoin’s halving, a recurring cycle in its history. In the past, this phase saw sharp price drops, like the…

Hong Kong’s Bitcoin ETFs experienced their first setback after launching on April 30, following their first cumulative daily BTC outflows on Monday. The outflow came from the China Asset Management Bitcoin ETF, while the other Hong Kong-based products had no flows. Hong Kong ETFs See Modest Inflows According to Farside data, the China AMC Bitcoin ETF saw an outflow of $4.9 million on Monday. In contrast, the other Bitcoin and Ethereum ETFs in Hong Kong reported “zero” flows apart from…

As Bitcoin (BTC) matures into a staple of investment portfolios, the prevailing view of its volatility remains exaggerated mainly.  This overestimation could lead investors to misunderstand the risks and opportunities associated with this cryptocurrency. Fidelity Research Shows Investors’ Misconceptions on Bitcoin Volatility Despite the long-standing debate on its volatility, many investors still view it as far more unstable than traditional assets. Yet, recent data indicate it may be less volatile than previously believed, even when compared to high-profile stocks like…